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Answer :
Final answer:
The margin of error for the given confidence interval (58.27, 60.73) is 1.23.
Explanation:
A confidence interval is typically defined as a range within which we are reasonably certain the true population parameter lies. The margin of error (MOE) is a measure of the precision of the estimate and is half of the width of the confidence interval. To calculate the MOE, we subtract the lower bound from the upper bound of the confidence interval and then divide by 2:
MOE = (Upper Bound - Lower Bound) / 2
MOE = (60.73 - 58.27) / 2
MOE = 2.46 / 2
MOE = 1.23
So, the margin of error for this confidence interval is 1.23. This means that if we were to repeat the process of constructing this confidence interval many times, we would expect about 95% of the intervals to contain the true population parameter, and the average width of those intervals would be approximately 1.23 units.
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